Coutts research shows that eight out of ten properties in London’s most exclusive neighbourhoods are now selling for less than their asking price, a sign of softening demand at the very top of the capital’s housing market. Areas named in the study include Mayfair, Belgravia and Knightsbridge, where sellers are increasingly reporting shortfalls that can amount to hundreds of thousands of pounds.
The bank’s analysis covers “prime central London,” the collection of postcodes traditionally understood to be the city’s most expensive. Coutts reported a 5% decline in prices across that segment in the third quarter of 2026, reflecting a notable contraction in values over a three-month period.
Coutts, which provides private banking services to high-net-worth clients, said the pattern of transactions points to a broader slowdown in the UK property market that is now affecting its wealthiest homeowners. The proportion of homes selling under asking price has risen sharply in neighbourhoods that have long been seen as resilient to wider market shifts.
The findings underscore pressure on sellers in prime central locations, who face significant paper losses compared with recent asking prices. The research will be watched closely by investors, estate agents and affluent homeowners for signals about the near-term outlook for high-end London real estate.
While Coutts’ report focuses on the top tier of London’s market, it adds to a series of indicators suggesting changing conditions across parts of the UK housing sector. Market participants said the data may prompt adjustments to pricing strategies and expectations among sellers in the capital’s most prestigious postcodes.